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20121201
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cities. that says we'll see international capital flows fall to go other markets. so what i would say to everybody is that whereas we've held down our exposure to international equities, both developed and to emerging, i would start to increase that exposure to international equities both developed and emerging, largely because i think you'll see dollar weakness and currency strength in other parts of the world. >> next year will be steady -- far more steady and far less spectacular, that seems to be what you're suggesting. >> growth next year probably around 2% is the consensus, 2.4% is where i come down. growth in profits maybe 3% to 4% next year. a very flat interest rate environment. you put all that together, you ask yourself what's going to happen to the stock market if that's right. and the answer is you won't get much out of that. >> so how do you invest into sectors? i think we've lost sound. unfortunately. there we go. our apologies. anyway, that was hugh johnson fp our apologies to him. we have had problems this morning as you might have guessed. let's just recap before we
. i think this may be keeping with the idea that citi is an international company. don't need as much stuff here. maybe. >> to the extent financial services are being commotitized. reflective of changes going on overall at financial services as you get out of markets that are so transparent now that you can't make the margin that you once again. therefore you have to focus on the cost size. >> i don't think people understand how much money they used to make. in a transaction you could hide gross credit. you could say you're buying this at 100 but you are getting to 98. no one is taking two anymore. those were the ways you really made a lot of money if you were a sales trader. >> the bulk of the layoffs is from global consumer banking. >> global consumer. >> they are talking brazil, hong kong -- >> those are growth markets. >> that's fascinating. 35% coming from that. >> and 25% from institutional clients. >> what the heck are they doing? are they retreating? the whole thing was to put everybody there. i guess -- >> it's not a supermarket. they want to be bodega. >> they didn't think p
for citi and bank of america, on a lot of revenue growth. it's dependant upon internal execution, so in bank of america's case they are going to generate over $18 billion in -- in capital. they are going to return to shareholders. i mean, i have not seen an opportunity like this in four or five years >> i like what you see about the catalyst, because number one, you say these banks are adequately capitalized and we've seen the capital being raised over the last couple of years. you wrote in the report yesterday that you think bank of america could quadruple its dividends? >> that's conservative. that could be low by a factor -- they could do two times that. what was said is the maximum payout, dividend payout ratio for the banks is going to be 30%. we took 16% of that so basically half of that, and our assumptions, the math and incredibly intensive analysis we went through this, it incorporates extremely conservative assumptions so when we started yesterday, 45% upside for bank of america and 35% upside, and this is short-term upside for bank of america over, you know, a $100 billion
, in the big tier one and two cities, they have 2176 kfcs. but in the smaller cities, 1167. as far as i'm concerned, yum's real problem is not china. there is yum's fast growing international business and then there is the slow growth domestic business. for the last year the company has shut down more stores than it opened. i'm saying right here right now give me a fee if it happened. do you think that is nuts? that is what altria did with phillip morris international. fast growing international one, and they decided to break up, a domestic stock and the growth stock in the form of phillip morris. i think yum should be the same thing. the business is sizzling. and now that taco bell has turned things around, i think that the domestic business has enough to turn around as well. right now, yum trades at 18 times earnings. if you split up the breakup, i think it will get a higher multiple to the point where the sum of the two parts might be more $77 per share. look, even if yum doesn't break itself up, china is going to resume its long march upward. to me it seems like a recipe for a highe
the like chelsea, arsenal and man dhefter city. a lot of the glamorous, exciting players are not based in the uk to begin with. it's an international stock market and it's very dominated by the resources sector. we quite like energy, but we're not so keen on the materials. we don't think the uk is going to do as well as the s&p or the euro stocks. we're expecting markets to be more strong because local expectations are going to be overly depressed and they matter. >> kevin, briefly, what about the yen? this seems to be one of the biggest stories for the bank of japan. do you bet on the bank of japan here? >> we expect them to loosen and of coursively push the yen down. the only qualification one has there is it's a little bit like the government bond call going into 2013. absolutely everybody seems to be saying it. >> okay. we'll leave it there. kevin gardener, head of investment strategist at barclay's. your top call for 2013? >> we think growth will be weak around the world. the u.s. is the best game in town. >> i want to hear what john walsh thinks. what's your top pick of the year,
, goes down. neighbor is the bounce people are looking for. >> brinker international? >> a lot of shuffle hog what restaurant is doing well. i happen to like this company but i think that panera is the one held up the best. >> knew buy at city. m and t bank, regional bank. >> we heard it from people about how the regional banks aren't making extra, bob pisani, people want ideas. m and t -- >> already a really good year. >> did this hudson city bank, david. fed let that happen. >> goldman a buy on yum. >> yes, this is a very big trade. goldman, everyone spectacle. novack turns yum. i think that this is the cheapest restaurant play. not panera, which is not the cheapest but the most momentum. >> tesoro. >> boy you know, if you are in the retyping business, david, you are really coining money. we got cheap energy here, you refine it charge the higher price. the margins terrific fors at the sore role we have to harness our cheap energy and get manufacturing here t can be done. the cheap energy and consistent energy in our country is remarkable. it is why -- >> stock's up 85% this year. >> the
Search Results 0 to 5 of about 6